Tyco Gets OK to Sell Ex-Exec’s Apartment
From Associated Press
A judge has given Tyco International Ltd. permission to sell an apartment on New York’s Upper East Side that had been used by former Chief Financial Officer Mark Swartz.
The apartment will be sold to Tommy Mottola, head of Sony Music Entertainment, for $9.25 million.
A source close to Tyco, which is struggling to recover from the alleged looting of $130 million by Swartz and former Chief Executive L. Dennis Kozlowski, said the conglomerate also hopes to sell Kozlowski’s New York apartment, where he reportedly kept paintings by Monet and Renoir.
Kozlowski is accused of illegally avoiding paying $1 million in sales tax on the paintings.
